Novi Sad, Serbia
Image: Petar Ubiparip, Pixabay
The EBRD provides a government loan of up to €105 million for a large-scale solar thermal power plant in Novi Sad, in the north of Serbia.
The financing for Novi Sad’s district heating company, Novosadska Toplana Novi Sad, will support the construction of a factory with 38,600 m² of solar collector fields, a seasonal heat storage system of 850,000 cubic meters, a 17 MW heat pump and a 60 MW electric boiler. .
The project will generate more than 118,000 MWh per year and is expected to reduce the district heating company’s natural gas consumption by approximately 29%.
The seasonal thermal energy storage system, in combination with power-to-heat solutions, will store excess electricity from renewable energy sources, increasing grid balancing capacity and reducing investment risks for new solar and wind energy projects, the EBRD said.
In addition to the EBRD investment, the project is expected to receive co-financing, including an investment grant of up to €21 million and €3 million in project implementation assistance, from the EU and other donors through the Western Balkans Investment Framework.
“Efforts to decarbonize our energy sector cannot be complete if we do not include thermal energy production, which accounts for a significant part of the energy balance,” said Serbian Energy Minister Dubravka Đedović Handanović. “We have taken the first steps by building four biomass heating plants, and I believe that the integration of a solar collector and a heat pump using the heat of the Danube River into Novi Sad’s district heating system will be a turning point. show how other cities and municipalities in Serbia will follow.”
Serbia has announced the development of several large-scale PV projects this year, including a deal for 1 GW of solar energy spread over six locations and a 1 GW solar panel factory. In addition, work is now underway on the state-owned company Elektroprivreda Srbije’s first solar project.
Crockery second auction for sustainable energy is currently open, with bidding beginning February 2025.
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